For a final year dissertation, need to frame a research problem statement regarding 'Investigation of ways to optimise workload and resources'. It can be confined to one particular resource(People, capital and material) and a specific industry since it is a small scale research of 12 weeks.
Thanks in advance.
Dear Kiran,
The focus in economics come down to efficiency. Think how efficient nature is in producing a molecule of water, where only the just number of Hydrogen and Oxygen are employed. However, one can augment a factor if one has comparative advantage over it. As a rule, the amount of any one resource in a mixture should be not too much and not too little.
In neoclassical economics, the marginal cost = marginal revenue concept is invoked. In maximum and minimum problems, the Lagrangian constraint method is used. In general equilibrium problems the Brower Fixed point theorem is used, and in decision making under uncertainty, one can use Minimax, Maximin, Criterion of Realism, Equally likely, and Minimax regret techniques...
It depends on nature of method you are using. I sugguest you may study existing resouce allocation optimization techniques and then formulate yours based on existing.
Focus on the latest literature in your field and then you can get the solution.
- Badges
- Science topic
- Similar topics
- Filing